RIYADH: As the two nations looked to expand industrial collaboration and investigate investment prospects, top Saudi ministers visited Egypt with the goal of strengthening pharmaceutical ties. According to a release, the Kingdom’s Minister of Industry, Bandar Alkhorayef, visited the north African nation on December 15 with the goal of strengthening cooperation in the mining and industrial sectors while spotting chances for mutual benefit in sectors including food and medicines.
Saudi Export-Import Bank CEO Saad Al-Khalb, Saudi Export Development Authority CEO Abdulrahman bin Sulaiman Al-Thukair, and Deputy Minister Khalil bin Salamah joined him. Alkhorayef met with prominent representatives of the private sector and senior Egyptian authorities during the tour to showcase Saudi Arabia’s strategic industrial priorities, incentives for investors, and competitive investment climate, according to the Saudi Press Agency.
The purpose of the official visit is to deepen the strategic alliance between the two nations. In 2023, non-oil imports from Egypt totaled SR9.6 billion, while non-oil exports from Saudi Arabia to Egypt totaled SR9.9 billion ($2.6 billion).
The tour of Almarai’s “Beyti” factory in the Beheira Governorate, where Alkhorayef evaluated the company’s role in supply chain localization and local community development, was a major highlight of the trip. In order to learn more about Egypt’s manufacturing prowess, he also went to a number of pharmaceutical plants.
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